Which of the following statement is INCORRECT, assuming positive interest rates and holding other things constant?

An investment that has an annual percentage rate $($APR$)$ of $6$ percent, compounded quarterly, will have and effective annual rate

$($EAR$)$ that is greater than $6$ percent.

The present value of a $3-$year, $$150$ annuity due will be greater than the present value of a $3-$year, $$150$ ordinary annuity.

The proportion of the payment that goes toward the interest portion of a fully amortized loan decreases over time.

Borrowers would prefer monthly compounding over annual compounding.

If a loan or investment has annual payments, then the effective, the periodic, and the nominal rates of interest will all be different.